QIIP will reopen on Sep 10 to accept 1,900 PR applications

The QIIP is reopening on 10 September and will accept 1,900 PR applications. Participants can get PR via 1.2 million $ passive investment under the Quebec Immigrant Investor Program. It is a very renowned program for overseas immigrant investors. This is also the only stream under provincial immigration that permits obtaining PR via passive investment.

Under QIIP candidates are needed to make only an investment for 5 years in Quebec. On the other hand, many provinces in Canada have immigration streams that require entrepreneurs to run a business actively.

The Quebec Immigrant Investor Program allocation generally exhausts very soon, as quoted by the CIC News. Maximum applications accepted from China will be 1, 330 during the intake period that includes Macau and Hong Kong. The intake period is slated to remain open until 15 March 2019.

The reopening of the QIIP next week to accept 1,900 PR applications is the first after the eligibility criteria were modified on 2 August this year. The chief alterations are inclusive of investment requirements and higher net asset. These have been raised respectively to 1.2 million $ CAD and 2 million $ CAD. Earlier the requirements were an investment of 800,000$ CAD and 1.6 million $ CAD.

The term period of the investment is 5 years with a Quebec Investissement. The agreement for investment must be done through an authorized financial intermediary in Quebec for participating in QIIP. The Government of Quebec guarantees the CAD 1.2 million $ investment. It will also return the full amount after 5 years.

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If you are looking to Study, Work, Visit, Invest or Migrate to Canada, talk to Y-Axis, the World’s No.1 Immigration & Visa Consultants.

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